Question

Write the formula of compound interest when time is in fraction and interest calculated

annually.​

Answer 1

Answer:

COMPOUND INTEREST

Compounded Calculation Interest Rate For One Period

Daily, each day, every 365th of a year (.06)/365 0.000164384

Monthly, each month, every 12th of a year (.06)/12 0.005

Quarterly, every 3 months, every 4th of a year (.06)/4 0.015

Semiannually, every 6 months, every half of a year (.06)/2 0.03